True/False
The closing entry for dividends includes a debit to the Dividends account and a credit to Retained Earnings.The closing entry for dividends includes a debit to Retained Earnings and a credit to the Dividends account.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q7: The post-closing trial balance does not include
Q8: The following financial information is from
Q9: The Supplies account is an example of
Q10: Which accounting principle states that a company
Q11: Of the following six accounts,which ones have
Q13: An example of an adjusting entry would
Q14: The following table contains financial information
Q15: Which of the following trial balances shows
Q16: Adjusting entries should be prepared after financial
Q17: On July 1,2018,Rents-A-Lot Inc.paid $72,000 for 36